Welcome to our dedicated page for Arcimoto news (Ticker: FUV), a resource for investors and traders seeking the latest updates and insights on Arcimoto stock.
Arcimoto, Inc. (NASDAQ: FUV), based in Eugene, Oregon, is a trailblazer in the design and manufacture of ultra-efficient electric vehicles aimed at everyday mobility. Founded in 2007, Arcimoto’s mission is to drive the shift towards sustainable transportation through innovative products and technology. The company’s name, meaning “future I drive,” reflects its commitment to eco-friendly mobility solutions.
The flagship model, the SRK, is a three-wheeled electric vehicle designed for practicality, safety, and affordability. It features tandem seating, a full enclosure, ample storage for groceries, dual-motor front-wheel drive, and a low center of gravity, all at an initial target base price of $11,900. The SRK is ideal for daily commuting and local travel, offering a fun and efficient alternative to traditional gas-powered vehicles.
Arcimoto continues to make significant strides in the electric vehicle sector. Recent milestones include a strategic partnership with MATBOCK to integrate American-made technologies into vehicles for government operations, enhancing tactical capabilities for the U.S. Department of Defense. Additionally, Arcimoto has partnered with Gwynndustries to create a versatile MUV (Multi-Utility Vehicle) equipped with custom features, highlighting the vehicle's adaptability for various commercial and industrial applications.
In a bid to revolutionize EV charging, Arcimoto has teamed up with MOBIUS to develop rapid charging technology, aiming to cut charging times down to ten minutes. This collaboration underscores Arcimoto’s commitment to pushing the boundaries of electric mobility by providing faster, more convenient charging solutions.
Financially, Arcimoto has demonstrated robust performance with a 17% increase in revenue in the second quarter of 2023. The company is strategically managing its assets, including the sale of its U.S. manufacturing facility with a leaseback option to optimize space usage and free up capital for future growth. Arcimoto’s innovative approach and strategic partnerships position it as a key player in the shift towards sustainable, efficient transportation.
Arcimoto, Inc. (NASDAQ: FUV) reported a 119% revenue increase in Q3 2021, reaching approximately $1.5 million, compared to $684,000 in Q3 2020. However, the company recorded a net loss of $11.5 million, or ($0.31) per share, up from a loss of $4.6 million, or ($0.15) per share, in the same period last year. Key achievements included record vehicle sales of 63 units, progress towards mass production, and advancements in rental operations and vehicle-sharing initiatives. The company plans to submit an ATVM loan application to the U.S. Department of Energy by year-end.
Arcimoto, Inc. (NASDAQ: FUV) will host a stakeholder and analyst webinar on November 16, 2021, to discuss its quarterly results and progress toward mass production. The event follows the filing of its Form 10-Q for the three and nine months ended September 30, 2021. An analyst panel will be included, followed by a Q&A session for investors. Interested parties can submit questions ahead of the event and view the Q3 2021 Stakeholder Update Video online. Replay will be available for 60 days post-webinar on Arcimoto's investor relations website.
Arcimoto, Inc. (NASDAQ: FUV) announced its participation in the 2021 Korea Auto Industry & Global TransporTech Show on November 9. CEO Mark Frohnmayer and Chief Strategy Officer Jesse Fittipaldi will present Arcimoto's mobility strategy and Korean collaboration plan at 9:30 p.m. PST, available live on the KOAA YouTube channel. Frohnmayer expressed enthusiasm for introducing Arcimoto vehicles to South Korea, aligning with President Moon Jae-in’s goal of achieving carbon neutrality by 2050. The event is hosted by AIN and KOTRA, showcasing advancements in automotive technology.
Arcimoto, Inc. (NASDAQ: FUV) is set to begin vehicle deliveries in Nevada, with reservations now being accepted. The company anticipates the first deliveries in Q1 2022, marking Nevada as the fifth state in its national expansion plan. The founder, Mark Frohnmayer, expressed excitement about the new market opportunities, particularly for both everyday drivers and tourist rentals. Arcimoto vehicles are already available in several states, including California and Florida, and customers outside these areas can reserve a vehicle for a refundable fee.
Arcimoto, Inc. (NASDAQ: FUV) is set to showcase its electric vehicles at the Southeastern Clean Cities Coalition meeting on Nov. 8, 2021, in Asheville, N.C. This follows a successful pilot program with Tennessee Clean Fuels, emphasizing the advantages of their electric vehicles for fleets. CEO Mark Frohnmayer expressed optimism about the integration of their vehicles into government fleets, highlighting benefits like low operating costs and energy efficiency. The Clean Cities initiative aims to enhance domestic fuel options and energy-efficient mobility solutions.
Arcimoto (NASDAQ: FUV) and REEF have launched REEFDrive, a new zero-emission vehicle-sharing program in Santa Monica. This initiative will provide customers with affordable access to electric FUVs and Deliverators, aiming to reshape urban mobility and create community connections. The rental service starts at $1.00 with a per-minute rate of 49 cents. It leverages REEF's extensive real estate network to enhance local experiences while promoting sustainability. The companies will hold demo drives to promote the launch.
Arcimoto, Inc. (NASDAQ: FUV) announced the launch of the 'Ride of the Arconauts,' a roadshow starting Oct. 16, featuring an autonomous FUV demonstration at Thunderhill Raceway Park, California. CEO Mark Frohnmayer emphasized a shift from traditional auto conferences to a more direct outreach model, aiming to increase awareness and organize public test drives across the U.S. Key events include stops at UC Berkeley and San Francisco. The initiative is designed to engage stakeholders and promote Arcimoto's lineup of electric vehicles.
Arcimoto, Inc. (NASDAQ: FUV) announces a successful Q3 with record vehicle deliveries of 64 customer vehicles and a total production of 78 vehicles. CEO Mark Frohnmayer highlighted the expanding rental market, the introduction of the Arcimoto Flatbed, and the ongoing Ride Of The Arconauts roadshow. The company also targets Q4 for submitting its ATVM loan application to the US Department of Energy and reports progress on cost-reduction initiatives. The launch of rental operations in San Diego and Eugene is aiding data collection for optimization.
Arcimoto, Inc. (NASDAQ: FUV) will host a stakeholder webcast on Tuesday, Oct. 12, 2021, at 2:00 p.m. PDT, to discuss its third quarter results ending September 30, 2021. The webcast will cover the company's progress towards sustainable transportation, updates on the Ride of the Arconauts, and vehicle production numbers for Q3. Participants are encouraged to join at least 15 seconds early to ensure timely access. A replay will be available on the investor relations section of the Arcimoto website for 60 days.
Arcimoto (NASDAQ: FUV) has partnered with Graduate Hotels to offer rentals of its Fun Utility Vehicles (FUVs) at Graduate Eugene. This collaboration allows guests to reserve FUVs directly at the hotel, enhancing their experience in exploring the local area known for its rich heritage and natural beauty. The initiative aims to provide a unique transportation option for visitors, emphasizing sustainability and local engagement. Arcimoto's CEO Mark Frohnmayer expressed excitement about this partnership, aiming for more opportunities with Graduate Hotels in the future.
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